Bitcoin price trades 6% below all-time highs, but several market signals suggest more upside ahead.
Bitcoin is poised for a breakout to all-time highs if a key resistance level at $108,000 is broken.
Bitcoin BTC price has rebounded 10% since June 5, reaching near-all-time highs at $110,800 on June 9. Meanwhile, analysts say declining open interest and “liquidation exhaustion” suggest that BTC price is primed for the next move.
While Bitcoin price came within 1.3% of its all-time high on May 27, Binance Open Interest failed to reach its previous peak in late May, according to data
Historically, BTC has shown bullish tendencies following rate stabilization, especially when paired with signs of liquidation exhaustion and fading open interest